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all other government programs share the rest. defense, half of them 80 other programs with the other half. william cohen on why it could be a scary thing. secretary, good to have you. what would be the immediate impact on the military, do you think? >> well, the immediate impact would be on operations and maintenance. basically, cuts in training, programs will be deferred, it would have an impact in terms of our war on terror, in terms of being able to fund these properly. whenever you talk about budget cuts, usually, you have a premise that what are the threats that face us. what's a strategy we have to combat those threats? what is the revenue necessary to fund the execution of the strategy? now we have a situation where just take it across the board, and deal with it. i think it's going to be very dangerous for us. it's not that the defense budget can't be cut. we already mandated 500 billion in cuts over ten years. this is another 500 billion meaning roughly, next year, starting in january, another 58 billion in 2013 comes ou
all other government programs share the rest. defense, half of them 80 other programs with the other half. william cohen on why it could be a scary thing. secretary, good to have you. what would be the immediate impact on the military, do you think? >> well, the immediate impact would be on operations and maintenance. basically, cuts in training, programs will be deferred, it would have an impact in terms of our war on terror, in terms of being able to fund these properly. whenever you...
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i wonder whether the country is shifted to -- yeah we like government, the more the better, shut up. >> you are largely correct. the point is, we have 48 or 49% of country getting direct benefits from government, and 48 or 49% paying no taxes. think of the republican constituents, a lot are seniors, they depend on social security some medicare, and republicans saying we'll give you tax increases and shave back social seccrity and shave back medicare. to what constituency are they appealing? a couple making a hundred thousand a year, 2,000-dollars right off the top, a huge share of their discretionary income, republican party will have to go back to the drawing board, and decide who and what it is, and whom it represents. neil: i have to get -- the a backbone first. >> thank you, patrick. >> thank you. neil: taxes are so high here that companies stash cash everywhere but here, ralph nader on the money drain that is causing us a lot of pain. 5-hbut someeople wonderused oveabout caffeine.es. the executive director of the center for science in the public terest said, "overdoing caffeine
i wonder whether the country is shifted to -- yeah we like government, the more the better, shut up. >> you are largely correct. the point is, we have 48 or 49% of country getting direct benefits from government, and 48 or 49% paying no taxes. think of the republican constituents, a lot are seniors, they depend on social security some medicare, and republicans saying we'll give you tax increases and shave back social seccrity and shave back medicare. to what constituency are they...
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neil: i don't deny the fact the heart is in the right place, but it's just the government. if you have to have a training program, and wait for a training program to help people, i always thought you had that built in traini program going, ready to go, but apparently not. >> well, i did have the opportunity today to speak, in person, to a cple fema reps asking about t topic. i said, there's a fox news report out saying you guys had people sight sing and not responding, and their excuse was, to your point, was that they are bringing in what's called the surge force, which are people from other governmental agencies that respond to disasters, and people coming in from washington, massachusetts, and the regular people from fema, they are trying hard, neil, but they are not getting the direction. when they get to town, that's when they train them for two to four days, and you would think, the federal government wld train them before they get to town so that they can help people immediately, and it seems like, again, the feds don't have everything in order, and we made mistakes
neil: i don't deny the fact the heart is in the right place, but it's just the government. if you have to have a training program, and wait for a training program to help people, i always thought you had that built in traini program going, ready to go, but apparently not. >> well, i did have the opportunity today to speak, in person, to a cple fema reps asking about t topic. i said, there's a fox news report out saying you guys had people sight sing and not responding, and their excuse...
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not everything is the responsibility of the government. not everything is the responsibility of the wildlife foundation. when it's on their beach. is their responsibility. >> i would think there would be highly motivated to move this thing. this is not smell of vision. i have feelings. but. >> had not think it will be allowed to. so many different organizations and government agencies are involved that if they touch the think in a get arrested. a new. melissa: that would be classic. moving on to a lab near st. louis is missing $700,000 in gold dust. it was purchased last year for research. no one is even sure if it was somehow misplaced or actually stolen. what you -- >> the story where somebody was knocking down a building in the open the ball and behind the wall were all these jars of coal dust. gold dust. in the wall space there were these jars of coal dust. and just thinking. i don't know. i don't want to get anybody in trouble. melissa: what you think they use it for? >> that's the big mystery for me not a mystery weather was still in
not everything is the responsibility of the government. not everything is the responsibility of the wildlife foundation. when it's on their beach. is their responsibility. >> i would think there would be highly motivated to move this thing. this is not smell of vision. i have feelings. but. >> had not think it will be allowed to. so many different organizations and government agencies are involved that if they touch the think in a get arrested. a new. melissa: that would be classic....
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we heard these rumblings out of the administration and the foreign policy apparatus of this government for 15 months saying assad must go. doing absolutely nothing. 40,000 people murdered, and then, unbelievably, the secretary of state today saying that this, you know, the point of which we reach some sort of resolution depends on how many people the assad regimements to kill. are you kidding me? >> they don't know what to do. on this, lou, i have to defend -he administration. it's hard to know what to do in a situation which is now as chaotic as syria. i mean, look -- lou: should we only assign foreign policy masters in the state department and white house then easy, simple tasks they are resolve? >> no, i just think there's some foreign policy challenges more complex than others, and this is a hard one. we armed the libyans and know some of those weapons went to the very people blowing up american embassies and targets. lou: radicals, extremists, terrorists. the administration will not use that term. >> they misread it thinking the russians would help ease assad out of power. there's
we heard these rumblings out of the administration and the foreign policy apparatus of this government for 15 months saying assad must go. doing absolutely nothing. 40,000 people murdered, and then, unbelievably, the secretary of state today saying that this, you know, the point of which we reach some sort of resolution depends on how many people the assad regimements to kill. are you kidding me? >> they don't know what to do. on this, lou, i have to defend -he administration. it's hard...
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months of civil unrest and the deas of at least 40,000 murdered civilians at the hands of their own government. united states and nato agreeing to deploy patriot weapons and to thwart an aso-called by assad. the missile systems to be positioned near the syria. his staff denies that and estimates if they were deploy troops, it requires 75,000 of the troops in a full ground invasionn order seize the chemical weapon stockpile. fox news confirming they were not ordered to draft the consideration of such a mission. secretary of state clinton is nonetheless talking very tough calling for assad to step down as the obama administration has done for the past 15 months, b refusing, still, to detail which consequences those would be. >> we will explore with like-minded countries what more we can do to bring the conflict to an end, but that will require the assad regime making the decision to participate in a political transition, ending the violence against its own people, and we hope thathey do so because we believe, as you know, that their fall is inevitable, but it's a question of how many people will
months of civil unrest and the deas of at least 40,000 murdered civilians at the hands of their own government. united states and nato agreeing to deploy patriot weapons and to thwart an aso-called by assad. the missile systems to be positioned near the syria. his staff denies that and estimates if they were deploy troops, it requires 75,000 of the troops in a full ground invasionn order seize the chemical weapon stockpile. fox news confirming they were not ordered to draft the consideration of...
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i'm not a big government fan. if you catch say the euro train on the continent two hours from brussels, that's pretty good, if you want government spending, here's something to show for it. there's nothing to show for it here except the department of bureaucratic compliance. charles: this was a big beef with the stimulus package. they are like -- they built a bridge that took me to stuart and it took them two years to do it. charles: hold on a second. i have to go to nicole, a bank announced they are cutting 11,000 positions? they are repositioning the company? nicole, the question is what's with the stock? nicole: the stock is moving significantly, up about 4% on a day where banking index higher. citigroup announcing 11,000 job cuts, 4% of the workforce. the savings will be roughly 1.1 billion dollars. they will be taking some pretax charges to the fourth quarter earnings of a billion. but this is basically reducing excess. and we should note this is the first move by the new ceo, michael corbatt. everybody had b
i'm not a big government fan. if you catch say the euro train on the continent two hours from brussels, that's pretty good, if you want government spending, here's something to show for it. there's nothing to show for it here except the department of bureaucratic compliance. charles: this was a big beef with the stimulus package. they are like -- they built a bridge that took me to stuart and it took them two years to do it. charles: hold on a second. i have to go to nicole, a bank announced...
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it is it state government and federal government funded by the lottery. there is a defense between tas that are forced and lottery which is it. >>> and i think the point. there is no way. if you make it voluntary. >> i can't hear anybody! >> and the bigger point here, you got to start somewhere. ybody who comes wup a solution. if it doesn't cover the full pad they slam it down and they say it will not work it is all about the baby steps. we are so screwed up. >> i disagree with that. >> a two dollar lottery. why is it ridiculous julian. >> you are talking about raising billions and we have to raise four trillion. >> that's not the only thing to do. >> it is it nolt. we'll not he a cookie today because i am trying not lose five pounds for the moll day. >> it is not funny. the fact of the matter we are taking big ste this is between two or three trillion debt reduction package. it is significant things. we are nolt dealing with serious other thans right now. >> we are throwing big nbc out there. three trillion over three years and why not hundred years and
it is it state government and federal government funded by the lottery. there is a defense between tas that are forced and lottery which is it. >>> and i think the point. there is no way. if you make it voluntary. >> i can't hear anybody! >> and the bigger point here, you got to start somewhere. ybody who comes wup a solution. if it doesn't cover the full pad they slam it down and they say it will not work it is all about the baby steps. we are so screwed up. >> i...
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how the federal government helps with each and every day. thank you for coming on the show tonight, it's great having here. >> always a pleasure. gerri: still to come, almost free holiday travel. reaching new highs this week. should the government get out of the loan business? we have a debate coming up. gerri: a ticking timebomb inside the federal budget. putting taxpayers on the hook for billions of dollars. student loans, that's what i'm talking about. escalating with delinquency rates hitting an all-time high. outstripping any other consumer debt. our student loans getting out of control? thank you for joining us. we really appreciate your time. the president is talking about higher education and how it should be an economic imperative. listen to this. >> a higher education is no longer a luxury. it is an economic imperative in the 21st century. it is part of what we need to succeed in this global economy. and i'm going to fig for every young person is willing to work hard to get an education. gerri: should everyone have a college degree
how the federal government helps with each and every day. thank you for coming on the show tonight, it's great having here. >> always a pleasure. gerri: still to come, almost free holiday travel. reaching new highs this week. should the government get out of the loan business? we have a debate coming up. gerri: a ticking timebomb inside the federal budget. putting taxpayers on the hook for billions of dollars. student loans, that's what i'm talking about. escalating with delinquency rates...
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the federal government wants you to start using the gas. but will it damage your gerri: look, i am no expert on media bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gop outrage. "the new york times", the front page story today that the tax code is less progressive than in 1980. back when ronald reagan was president. let's take a look at federal income tax in this country. these numbers according to the tax foundation. the top 1% pay 37.4%. the top 1% of earners. they pay almost 40%. taking a look at this, the top 5% pay nearly 60%. it doesn't seem quite right. the top 10% -- they pay 71%. federal income taxes, top 10%. picking up almost the entire time. if you wanted to ask her to be more progressive, i don't know, maybe the top 10% pay 90% of taxes. 95%? 100%? i think this whole argument is hogwash. the tax code is not there, but not because the wealthy are not paying enough. but because they pay too much money. everybody needs in the game. if you are part of the system,
the federal government wants you to start using the gas. but will it damage your gerri: look, i am no expert on media bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gop outrage. "the new york times", the front page story today that the tax code is less progressive than in 1980. back when ronald reagan was president. let's take a look at federal income tax in this country. these numbers according to the tax...
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the government is not spending. it is just we're a larger nation, one of the lgest nations inhe world. so we've got to get a unrstanding that america is a country th is not ing to go backo the 1950s. wee always going to searching and growing to make ts country better and have a balanced enomy. so what do we do? we start, melissa, because over the last decade evious to president obama, we have spent like, we are running water. two ws and bush tax cuts. melissa: we afree on that. >> bush tax cuts. melissa: we have spent way too . this plan doesn't basically entitlement spending. we don't get our snding, with any ofthese three plans. even going over the cliff we don't get the spendin in order. i will giv you the last word. th we go on. >> the issue with the republicans they're losing is. they're losing the argument, the debate, they're losing everythi. what we need to do is, to respond to the question, what do we do now in three weeks? let's go aheadand give 98% of the american people a tax t. none of us are ignoring t
the government is not spending. it is just we're a larger nation, one of the lgest nations inhe world. so we've got to get a unrstanding that america is a country th is not ing to go backo the 1950s. wee always going to searching and growing to make ts country better and have a balanced enomy. so what do we do? we start, melissa, because over the last decade evious to president obama, we have spent like, we are running water. two ws and bush tax cuts. melissa: we afree on that. >> bush...
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government. joining us, a pulitzer prize-winning editorial cartoonist. he is a two-time pulitzer prize-winning editorial cartoonist senior editor with investors business daily. great to have you with us. be appreciated so much. i love your cartoons, and i would want to adjust, if we may, go to a few more of them to get your remarks. i want to first it your idea of what you think of the fiscal cliff. you have tough find this to be rich father. >> absolutely. i always suggest, but the best tag riders in the world work for politicians. this white house is giving me plenty of fodder for curtains. and it is funny to think about these events, but a very traumatic and serious. they avoid the fiscal cliff. we are talking about over $607 billion worth of money taken out of the economy next year. lou: i just want to put up the next cartoon that we have. it matters not which one you select. but this is one of my favorites. the debt commission saying it is very difficult. is very complicated and then cut spending. i don't think you could have cut better on to the es
government. joining us, a pulitzer prize-winning editorial cartoonist. he is a two-time pulitzer prize-winning editorial cartoonist senior editor with investors business daily. great to have you with us. be appreciated so much. i love your cartoons, and i would want to adjust, if we may, go to a few more of them to get your remarks. i want to first it your idea of what you think of the fiscal cliff. you have tough find this to be rich father. >> absolutely. i always suggest, but the best...
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up to 30%, the government raises or money by having a tax of 30%. liz: you are a very large shareholder, if not the very largest, you are saving about $690,000 on your tax bill as well. that gives people a sense of how much money could possibly be saved. in 2015, will you start paying dividends again? >> i cannot decide. it is not just up to me. we will take a look at that and see what the story is. our goal is to reward shareholders. there are other ways to do that by buying shares back, increasing earnings per share, decreasing numbers of shares. we always will take care of our customers, that is what we do and that is why we are% successful. liz: thank you for coming on the show. robert shillman. i want to make a point about this. we love the product. it speeds up our lives. a fascinating window into why companies and boards are doing this. "the closing bell" ringing in 48 minutes. we are at session highs right now. you just heard doctor shillman who is increasing his dividend and speeding up the payouts. we have another fund manager with a compl
up to 30%, the government raises or money by having a tax of 30%. liz: you are a very large shareholder, if not the very largest, you are saving about $690,000 on your tax bill as well. that gives people a sense of how much money could possibly be saved. in 2015, will you start paying dividends again? >> i cannot decide. it is not just up to me. we will take a look at that and see what the story is. our goal is to reward shareholders. there are other ways to do that by buying shares back,...
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this is the government we're talking about. so it is cumbersome, it is expensive in the form of both taxes and royalalty regime. in the case of a situation like argentina which nationalized its gas companies, you have the issue of attracting outside investors at this point. melissa: well, i don't understand. if the government owns the mineral rights why don't they want to develop it? it would be revenue for them and every government needs money to spend? >> well, indeed. now when you have a case like the united states, it's a matter where your ideology runs down to. the state of north dark has tremendous resources taking advantage of it has 3.1% of it. california which take as opposite view on taking molecules and oil out of the ground has 10%nemployment. so we are on the cusp here of a manufacturing renaissance in certain parlths of the country. the problem -- parts of country. the government is dictating to the market what can be brought to t market. for example, france, belgium, outlawed fracking. melissa: wow. >> in years t
this is the government we're talking about. so it is cumbersome, it is expensive in the form of both taxes and royalalty regime. in the case of a situation like argentina which nationalized its gas companies, you have the issue of attracting outside investors at this point. melissa: well, i don't understand. if the government owns the mineral rights why don't they want to develop it? it would be revenue for them and every government needs money to spend? >> well, indeed. now when you have...
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pension fundsfrom european governments, pension funds over the world. if they collapse, the government will be obliged either to fund them or to break the bad news the electorate that they are not going to. liz: it exaggerated worldwide? >> it is a big problem. lots of pension funds are investments in those don't pay anything anymore. liz: government don't have my two bailout. her next one is, this stumped me. climate change. >> i think this is bubbling under the surface. we worry about it when we are not dealing with more shortbread issues. i think it has to come to the top of the agenda because we are changing our environment. liz: look at hurricane sandy with his bizarre storm surge, a snowstorm here in october and nothing all winter. how does that affect my portfolio? >> i think if you look carefully, we can see firms you think might do well in a world which has more climate distress. and firms that won't. firms, they actually look like they are overpriced. it was expensive. that means people are actually investing in these kinds of industries and t
pension fundsfrom european governments, pension funds over the world. if they collapse, the government will be obliged either to fund them or to break the bad news the electorate that they are not going to. liz: it exaggerated worldwide? >> it is a big problem. lots of pension funds are investments in those don't pay anything anymore. liz: government don't have my two bailout. her next one is, this stumped me. climate change. >> i think this is bubbling under the surface. we worry...
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make sure people in washington understand is if all that is done is a cost shifting from the federal government to the state, it doesn't accomplish much because states are not in a position to pick up the extra costs. >> speaking as governor of the stage we execute. we have to get things done. unfortunately congress doesn't. they can throw rocks at each other and leave it for another day and kick the can down the road. governors have to get things done today. we would hope congress will watch the governor's listen to the states. i think we can help him find compromise. liz: governor mark l. will be on neil cavuto tonight at 8:00 p.m. eastern. you cannot miss that interview. see what he has to say about today's trip to the white house. he does amazing interviews with these governors. you got to hear what he has to say. the fear of falling over the cliff real if you with a look at the chart of the fear index, you might not think so at all. it is incredibly low but market players and insiders are already making trades in advance of something aaron next guest says is about to get to the mix. let's
make sure people in washington understand is if all that is done is a cost shifting from the federal government to the state, it doesn't accomplish much because states are not in a position to pick up the extra costs. >> speaking as governor of the stage we execute. we have to get things done. unfortunately congress doesn't. they can throw rocks at each other and leave it for another day and kick the can down the road. governors have to get things done today. we would hope congress will...
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government regulation, has that ever tricked you up? is it more onerous now and how dii you overcome it? >> not really. liz: never a problem? >> government is pretty lax on the fitness industry. there are fitness certifying bodies. we encourage all the instructors to certify american council on exercise and american fitness. it is all good. liz: speaking of struggletores she is here with me on the set. i was a jane fonda. there are billy blanks. there are a million ideas out there. how do you keep i guess, the venture-capitalist monee behind you. you've got millions and millions in vc money when there are ideas coming up from behind? >> the good thing about zumba, we created open source fitness. as long as anybody likes to dance there will be zumba classes. we were born dancing two years old, we start dancing. there is new dances and new moves and new evolution of music. we just incorporated it into zumba. liz: ipo? >> it's, never out of the question but we have one lens that we look through, does it help the instructors. if it helps th
government regulation, has that ever tricked you up? is it more onerous now and how dii you overcome it? >> not really. liz: never a problem? >> government is pretty lax on the fitness industry. there are fitness certifying bodies. we encourage all the instructors to certify american council on exercise and american fitness. it is all good. liz: speaking of struggletores she is here with me on the set. i was a jane fonda. there are billy blanks. there are a million ideas out there....
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now, that is a government at work. two and half cents for every penny. president obama planning to meet with governors next week as pt of his effort t talk with people about avoiding th fiscal cliff. members of the national governors' association executive committee meeting at the white house next tuesday, including chairman teller governor as well as wisconsin governor scott waer. the president will deliver a speech to the business roundtable was a recap the president has delivered a speech at a toy factory, met with small business owners, mddle-class taxpayers, labor union leaders, two groups of business executives on the cliff, but has not met with the republicans with whom he has to deal in order to cut a deal. up next, the house passes gislation to provide visas to emigrants with advanced degrees. cries of racism from one democrat. we will take it up in the "lou dobbs forum." publicans leading the way on immigration reform. we will take that up as well. on our way to this break, here is our list of the folks the president should also consider meetin
now, that is a government at work. two and half cents for every penny. president obama planning to meet with governors next week as pt of his effort t talk with people about avoiding th fiscal cliff. members of the national governors' association executive committee meeting at the white house next tuesday, including chairman teller governor as well as wisconsin governor scott waer. the president will deliver a speech to the business roundtable was a recap the president has delivered a speech at...
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well, they are not the government. and the young man who is accused, he's still innocent, because he's innocent still proven guilty accused of this awful event is free to work at another football team. so under that theory, he's voluntarily there and he voluntarily accepts the restrictions. look, professional athletes have a lot of restrictions. stuart: extended all team members, judge? they would extend it to everybody gets one of these devices. >> now, you're going to touch the other side of me which is why are they punishing everybody because of what one person did. that's preposterous. stuart: because the reputation and value of the team is at stake. >> they have the right to do it because they are free to go work somewhere else. were the government to do it to us where we were not free to have another government, it would be a different story. stuart: they made it a contractual obligation, you sign a contract to play for the dallas cowboys and you have one of these things in your car. ? >> that's a great question.
well, they are not the government. and the young man who is accused, he's still innocent, because he's innocent still proven guilty accused of this awful event is free to work at another football team. so under that theory, he's voluntarily there and he voluntarily accepts the restrictions. look, professional athletes have a lot of restrictions. stuart: extended all team members, judge? they would extend it to everybody gets one of these devices. >> now, you're going to touch the other...
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this is a government-run market now. it is not a free market. it's a government-run market. so where is the government on your question? melissa: yeah. >> we don't know. melissa: we don't know. >> there has been no leadership. melissa: we don't know although that they are hostile to a certain extent. $47 billion is a lot of money obviously. that would create a quite a lot of jobs, right? they reilly turned down ss many jobs and revenue when the economy is hurting so much. >> and it is not just export% lng. my bottom line, yes, we should export lng if we have a market out there to serve but let's do even more with natural gas. let's make natural gas into transportation fuels, cng, compressed natural gas, liquified, natural gas both for trucking. methanol or even gasoline can be made from natural gas. so why don't we use natural gas and get off imported oil? only takes a little bit of political leadership. melissa: you're not talking about lng, is liquifying natural gas. that is what we would have to do if we want to export natural gas to asia or europe which are two ripe mark
this is a government-run market now. it is not a free market. it's a government-run market. so where is the government on your question? melissa: yeah. >> we don't know. melissa: we don't know. >> there has been no leadership. melissa: we don't know although that they are hostile to a certain extent. $47 billion is a lot of money obviously. that would create a quite a lot of jobs, right? they reilly turned down ss many jobs and revenue when the economy is hurting so much. >>...
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it has been a rough year for corporate america with the government fining businesses $1.1 billion in antitrust funds. we have the exclusive details. liz: ever wonder what it would be like to work in an office with treadmill desks? free candy and a rock band break room? how you can spend a deal at facebook campus and meet with senior executives who play all the games and hang out with the biggies. we'll tell you how you can do this. stay tuned. >> you can add limited brands ls the company's paying early dividends to avoid higher taxes next year. making the announcement a $3 special dividend, $3 per share special dividend payable december 26. limited brands operating victoria's secret, paint, bath and body works among others. december 26. david: a nice 2% pop after hours because of that. liz: government finding businessefiningbusinesses a recs year forcing firms to fork over $1 billion in criminal fines. david: this exclusive fox business story. >> does the largest one-year total in 122 year history of the antitrust act. the analysis provided exclusively to fox business confirmed by th
it has been a rough year for corporate america with the government fining businesses $1.1 billion in antitrust funds. we have the exclusive details. liz: ever wonder what it would be like to work in an office with treadmill desks? free candy and a rock band break room? how you can spend a deal at facebook campus and meet with senior executives who play all the games and hang out with the biggies. we'll tell you how you can do this. stay tuned. >> you can add limited brands ls the...
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dagen: get the government out of the markets. connell: the devil wears -- becoming our next ambassador to britain. dagen: holiday travelers paying up. the average ticket price topping $450. connell: everyone needs a few days off. it is the top of the hour. we will go to nicole petallides. good morning. nicole: good morning. let's take a look at what is going on here. let's take a look at jardin restaurants. it turns out they are not meeting the analyst expectations. let's take a look at the stock. it is near its lows of he day. their earnings will miss the analyst estimates. same-store sales dropping 3.2%. as a result, sales have diminished. how about the major market averages? the dow is higher, but the s&p and the nasdaq are lower. dagen: republicans finally pulling off their own plan to deal with the fiscal cliff. connell: the white house predictably saying, no deal. the parameters are there now. we can start to imagine what a deal may look like. >> i think that is right. they have been adamant in saying we want more revenue.
dagen: get the government out of the markets. connell: the devil wears -- becoming our next ambassador to britain. dagen: holiday travelers paying up. the average ticket price topping $450. connell: everyone needs a few days off. it is the top of the hour. we will go to nicole petallides. good morning. nicole: good morning. let's take a look at what is going on here. let's take a look at jardin restaurants. it turns out they are not meeting the analyst expectations. let's take a look at the...
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stuart: michigan is a right to work law and the government is likely to sign it. looks like they will be the 24th ridge to work state in the united states. fracking is a way to get natural gas from shale thousands of feet underground. it is very controversial. some worry it affects the water supply and the environment. joining us now is any gruber from the environmental system, i am going to give you the chance to give a commercial here for your company. what you do if i am not mistaken is you clean the water which comes out of the ground after a capital to one operation takes place. that is what you do. is that correct? >> that is correct. stuart: this business is booming. >> business has been very good. we actually specialize in industrial waste water treatment. so we took an application that we use in the food industry and apply to oil and gas industry because both of them have one thing in common. stuart: environmentalists are concerned about fracking. if you inject this water and sand and chemicals the underground, you can pollute the water supply. you are te
stuart: michigan is a right to work law and the government is likely to sign it. looks like they will be the 24th ridge to work state in the united states. fracking is a way to get natural gas from shale thousands of feet underground. it is very controversial. some worry it affects the water supply and the environment. joining us now is any gruber from the environmental system, i am going to give you the chance to give a commercial here for your company. what you do if i am not mistaken is you...
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the government says drugs are illegal, drugs everywhere, just because the government is going to say now what we're going to limit guns, why do people think that's not going to have the same results? >> we have an extraordinary run-up in the sale of guns this year and especially that black friday record which was stunning. thank you very much indeed. and how is this for economic controversy? baby tourism in california. charging residents in china to stay until their baby is born. and hot topic, we're talking about it and this will be new at ten that's next. ♪ stuart: new at 10:00 o'clock. controversy at a whole. mothers are willing to spend thousands of dollars to have their babies here in america. we will talk to the judge about this in just a couple of minutes. the very big story today is this. you have no idea what taxes you will be paying and 2013. if the white house has its way, it will be all taxes, all the time. the democrats are holding the line on big tax increases. we are talking about that right from the start on this monday morning. it is a go nowhere monday. there is l
the government says drugs are illegal, drugs everywhere, just because the government is going to say now what we're going to limit guns, why do people think that's not going to have the same results? >> we have an extraordinary run-up in the sale of guns this year and especially that black friday record which was stunning. thank you very much indeed. and how is this for economic controversy? baby tourism in california. charging residents in china to stay until their baby is born. and hot...
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the guyys been in government most of his life. i think he did a little work early on -- lori: how many years was he at the new york fed? >> i think eight, but i could be wrong. i just remember looking at his bio, and he spent some time with kissinger and associates, but that was way early in his career. i believe he was at the world bank, then he was at the fed, and now he's at treasury. he's a guy that, you know, was in, was in government for a long, long time. it's not a, you know, so you figure he's making, what, he's not making a hell of a lot of money, right? lori: thank you. >> so he'll work somewhere. you know, i'll tell you, if larry fink stays at blackrock, i could see him going to blackrock. lori: okay. >> we should also point out that he's friends with jamie dimon. lori: we're going to hit our break. >> i'm sorry. lori: i could talk to you all day. >> i don't wear earpieces, so i don't have people screaming in my ear. lori: it was interesting, of course, as always. closing bell ringing in half an hour. microsoft wants t
the guyys been in government most of his life. i think he did a little work early on -- lori: how many years was he at the new york fed? >> i think eight, but i could be wrong. i just remember looking at his bio, and he spent some time with kissinger and associates, but that was way early in his career. i believe he was at the world bank, then he was at the fed, and now he's at treasury. he's a guy that, you know, was in, was in government for a long, long time. it's not a, you know, so...
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to force government to shrink itself. this is the only way they will do that in my opinion, to have strict term limits for politicians in the future, single term limits so that politics is a duty and no longer a career by buying votes with voters money in perpetuity and that is what the fiscal cliff is all about. is sucking money in a huge transfer from the private sector to big government and big government is totally destructive to the economy and the morale of the nation. dennis: i think the notion that the congress will introduce term limits is on display in a redesign of fantasyland. let's say we do go over the cliff and instead marginal rates go up on their ridge. this doesn't have to be a devastating blow to the economy. doesn't capital at some point find a way to make money? >> all i can tell you is when i came into parliament with margaret thatcher as prime minister the top rate of tax was 92% on the ridge and england was dealing its way into the ocean. margaret thatcher dropped it in the first month to sixty% an
to force government to shrink itself. this is the only way they will do that in my opinion, to have strict term limits for politicians in the future, single term limits so that politics is a duty and no longer a career by buying votes with voters money in perpetuity and that is what the fiscal cliff is all about. is sucking money in a huge transfer from the private sector to big government and big government is totally destructive to the economy and the morale of the nation. dennis: i think the...
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this administration sees private charities as a competitor to what the government, the federal government provides in charitable services. they also are doing that with education, by the way, any profit sector in education, is a competitor to what the government does. is there any truth to that, do you think? >> i mean the decision to give a charitable gift is driven by helping the community directly. when it goes through government, i mean we see every day the inefficiency of that, that the charity's mission starts to drift towards what the government wants rather than what the community wants, rather than the mission of the organization. david: private charity is more efficient? stuart: more basic point, when the government does so called charitable work, it is essentially distributing money, it is buying votes. liz: that's right. stuart: when a private charity does good, there's no vote buying. it is an efficient delivery of service. am i crazy? >> added to that is that many of these charities do rely upon local state and federal money for some of their programs. they are already getti
this administration sees private charities as a competitor to what the government, the federal government provides in charitable services. they also are doing that with education, by the way, any profit sector in education, is a competitor to what the government does. is there any truth to that, do you think? >> i mean the decision to give a charitable gift is driven by helping the community directly. when it goes through government, i mean we see every day the inefficiency of that, that...
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stuart: maybe you don't have the government do it at all. maybe. >> they're going to get this done. 38 miles. tesla goes 265 miles. that's the reason tesla stock is moving higher. here is what this really is. this is was gives me most. someone called it in the manhattan project. are you serious? the manhattan project was the war of all wars. to our be at war against right now if it's not a war against capitalism. if i am developing battery technology not only is the government my competition, but they get the right as well. this is absolutely insane. and 100 million, i'm predicting it already. a lot of money for taxpayers. in the grand scheme of things revolutionize the sort of technology is collecting billions. it's a payoff to the sky of people. stuart: to gile and then. you know you have a i'm going to call fiscal cliff fatigue. and then to address that issue. with the deal that involves raising tax rates president obama is ready over the cliff. joining as well, congresswoman martian blackwell. if given a choice would you take no deal of
stuart: maybe you don't have the government do it at all. maybe. >> they're going to get this done. 38 miles. tesla goes 265 miles. that's the reason tesla stock is moving higher. here is what this really is. this is was gives me most. someone called it in the manhattan project. are you serious? the manhattan project was the war of all wars. to our be at war against right now if it's not a war against capitalism. if i am developing battery technology not only is the government my...
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the government will never create the number of jobs needed to put america back to work. connell: paul conway, thank you. appreciate you coming on. dagen: scott bloch is joining us now from boston. you look at the nasdaq and the broad market measured by the s&p 500 last year. double-digit gains by both. is that not wanted? >> well, it is. multiples are cheap. even if we look today on yesterday's close. the problems are the corporate earnings really starting to head down. the latest reported s&p earnings were down. that is the first drop since the bottom of the 08 market. truthfully, some of the estimates for next year, $113 on the s&p. i do not see a lot of growth in earnings next year. it does not bode well. it is hard to be very bullish on the market as a whole. dagen: that he's starts to shrink and stocks all of a sudden look a lot more expensive. are you most concerned about what is happening here in the united states or what you see going on over in europe? what about here and our lack of action in washington? >> obviously, i am very concerned. it shows a lack of con
the government will never create the number of jobs needed to put america back to work. connell: paul conway, thank you. appreciate you coming on. dagen: scott bloch is joining us now from boston. you look at the nasdaq and the broad market measured by the s&p 500 last year. double-digit gains by both. is that not wanted? >> well, it is. multiples are cheap. even if we look today on yesterday's close. the problems are the corporate earnings really starting to head down. the latest...
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there was a lot of government activity. government funding itself to drive innovation around environmentally friendly vehicles. there is obviously a lot of defense spending as well. tracy: a really cool study. thank you for taking the time and staying up with us and monday. >> no problem. thank you, tracy. ashley: big bad shining rightly. with all the excitement over duchess kates pregnancy, i know tracy is on the edge of her seat. a couple of djs decided to try their luck on getting some insider information on kates condition by impersonating the queen spirit hello, i am just asking about my grand on. her daughter kate. >> she is getting some fluids to rehydrate her. she is stable at the moment. >> okay. [ laughter ] ashley: that is the worst impersonation. the hospital admitted, guess what, they call the whole thing deplorable. the radio station apologizing for calling any issues. the host said that expected to be hauled off on after the hospital toward their terrible british accents. it was not good at all, but they got
there was a lot of government activity. government funding itself to drive innovation around environmentally friendly vehicles. there is obviously a lot of defense spending as well. tracy: a really cool study. thank you for taking the time and staying up with us and monday. >> no problem. thank you, tracy. ashley: big bad shining rightly. with all the excitement over duchess kates pregnancy, i know tracy is on the edge of her seat. a couple of djs decided to try their luck on getting some...
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it funds eight and a half days of government. where's the other 355-days you have to fund? it's a panacea. one thing that's gets people lathered up, we got to get serious and talk about tree balancing our budget. this is not going to do it by what the president says that he wants to do. tracy: not just a deal, but a good one, not just kicking it down the road. thank you for sharing your thoughts. >> you're very welcome. thank you for having me. dennis: auto sales surge, why car dealers tip their hats with sandy, but fear the fiscal cliff. tracy: thiid time the charm for hefner? god love him. getting marrieded gain to a woman 60 years younger. come on, give him a high five for that. dennis: better living through chemicals. the perfect place where he should hold his wedding. getting into the marriage biz. tracy: looking at oil, phil flynn is live at the cme next with the reasons why oil went up, basically, flat now, $18.18 a barrel. we'll be right back. want to try to crack it? yeah, that's the way to do it! now we ne a little bit more... [ male announc ] at humana, we unders
it funds eight and a half days of government. where's the other 355-days you have to fund? it's a panacea. one thing that's gets people lathered up, we got to get serious and talk about tree balancing our budget. this is not going to do it by what the president says that he wants to do. tracy: not just a deal, but a good one, not just kicking it down the road. thank you for sharing your thoughts. >> you're very welcome. thank you for having me. dennis: auto sales surge, why car dealers...
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the only real hope you have is a change of government. it will not happen over american support. connell: they have elections next year. not that we are counting on the most honest elections or anything like that. the economy is struggling, you would think the leadership would change. >> eastern europe used to be a communist bloc satellites of the soviet empire. the collapse of the soviet economy back in the early 80s brought us the whole revival of the wall coming down. those kinds of things can still happen in iran. they have to have the same kind of support that ronald reagan gave to the polish and eastern europeans back when it was not a popular thing to do. dagen: do you believe that the current obama administration is willing to provide that kind of support? >> no. that is why i wrote this book. it is about what happens if you do not do the right kind of things to support democracy. quite frankly, we are not doing enough with the right kind of things. dagen: it is a novel? >> it is a novel. this is about and administration that does not do the right things just as we are no
the only real hope you have is a change of government. it will not happen over american support. connell: they have elections next year. not that we are counting on the most honest elections or anything like that. the economy is struggling, you would think the leadership would change. >> eastern europe used to be a communist bloc satellites of the soviet empire. the collapse of the soviet economy back in the early 80s brought us the whole revival of the wall coming down. those kinds of...
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the beast is the government, in my opinion here. the beast is the government. you don't reward the beast by giving it more food, more dollars. that's what i near is going on here. melissa: yeah. lori: the president's desire to get rid of the debt ceiling limit at all, what kind of ramifications, what could happen? are we looking at another debt downgrade? a second downgrade could be really, really -- >> here is what i agree with him. this charade we go through every few months on the debt limit. republican presidents, democratic presidents, mark zandi from moody's it does damage our credibility. i agree to something like that. i didn't like fiat saying i will handle the debt thing. that would be like letting me run loose in a best buy electronics store. not a good idea. i understand where he is coming from. we do have a find a way we can, you know, not hold our entire government hostage to these debt ceiling issues. but i just don't like what he is doing. i'll take over here. that could be the wolf guarding the henhouse i. lori: i think we're looking at another
the beast is the government, in my opinion here. the beast is the government. you don't reward the beast by giving it more food, more dollars. that's what i near is going on here. melissa: yeah. lori: the president's desire to get rid of the debt ceiling limit at all, what kind of ramifications, what could happen? are we looking at another debt downgrade? a second downgrade could be really, really -- >> here is what i agree with him. this charade we go through every few months on the debt...
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>> one of the things we understand that the federal government is spending too much money. they're borrowing 40 cents of every dollar they have spent. we can help by taking less as states. we'll take less but take away the strings. give us more flexibility. if we can do that we can do more with less. help the federal government balance the budget while providing desired services to our customers. ashley: bottom line, governor, obviously comes down to democrats want to raise taxes on the richest americans while republicans say you know what? we can raise revenue by eliminating deductions. which is the best path forward in your opinion? >> raising taxes in my view is the last thing you would want to do. clearly as you raise revenue you can do it a couple of ways by closing loopholes which is one. proposals on the table. people acknowledge maybe that is one that is a compromise point. raising tax rates is a bone of contention. growing the economy, really how you provide additional revenues to pay the bills. that ought to be a part of the equation too. both sides know there has
>> one of the things we understand that the federal government is spending too much money. they're borrowing 40 cents of every dollar they have spent. we can help by taking less as states. we'll take less but take away the strings. give us more flexibility. if we can do that we can do more with less. help the federal government balance the budget while providing desired services to our customers. ashley: bottom line, governor, obviously comes down to democrats want to raise taxes on the...
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gm had criticism because a lot of sales are driven by government purchases. we as taxpayers own a significant share of gm that is little questionable. >> gm premium brands saw most growth, buick, cadillac and gmc. chevrolet was kind of flat. last year at this time they had heavy incentives they didn't meet this time around so sales were down. pickup trucks were down. they have new vehicles are coming next year. they're clearing out new current models. they hurt on pickup salls. premium brands are hurting as well. premium and luxury brands are doing well. lori: where is at toe industry related to historic highs? >> this is ahead of expectations this year. definitely really good and it is growing. whether or not the fiscal cliff happens we'll see if things change. for right now consumers don't seem to be concerned. lori: i was trying to avoid the topic. always talking about the fiscal cliff. i will say good-bye. no fiscal cliff. thank you, gary. pressure. melissa: the problem with online shopping used to be you had to wait in order to get what you ordered but n
gm had criticism because a lot of sales are driven by government purchases. we as taxpayers own a significant share of gm that is little questionable. >> gm premium brands saw most growth, buick, cadillac and gmc. chevrolet was kind of flat. last year at this time they had heavy incentives they didn't meet this time around so sales were down. pickup trucks were down. they have new vehicles are coming next year. they're clearing out new current models. they hurt on pickup salls. premium...